The Director of the Industrial Bank of Mohamed Abdel Wahab, stressed the need to work on the liberation from the constraints of the seventh item that Iraq is burdened with.
Abdulwahab said to Agency (news) on Friday: Iraq to exit from Chapter VII gives the financial sector more freedom in dealing with international banks, as well as reduce costs to all industrialists, and cut steps the mediators and the associated additional costs, and that dealing with global banks have directly and more credible.
He said that the problem of the banks and the banking sector are selections paragraphs of Section VII attending to deal with banks, local government, which confiscated sums of money that is traded internationally, pointing to the possibility of the adoption of all international regulations banking in our banks, public, and is the involvement of associate in the sessions developmental in All specializations to raise the efficiency of bank personnel, and stand on the latest findings of the global banking sector and the mechanics work and dealings.
The Industrial Bank works to provide loans to a large number of industrial projects in order to activate most of the production in local industries.